Pakistan ‘secures’ $2 billion loan rollover from China

Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. — PPI ISLAMABAD: In a major boost to the country’s foreign exchange reserves, China has rolled over $2 billion to Pakistan, Ministry of Finance sources told Geo News on Wednesday. Pakistan has borrowed $2 billion from China […]

China agrees to rollover $2b debt on existing terms | The Express Tribune

ISLAMABAD: China has agreed to rollover a $2 billion debt on existing terms after initially seeking a hike in price, as Pakistan’s policy to maintain foreign exchange reserves through deposits by three countries is becoming costly due to a 118% surge in interest cost. The Ministry of Finance officials said that an understanding has been […]

China beats Japan as world’s top vehicle exporter in 2023

A Neta S electric car at the Shanghai Auto Show. — AFP/File China surpassed Japan to become the world’s largest exporter of vehicles last year, as per the data released by the Japan Automobile Manufacturers Association (JAMA) on Wednesday. Large investments in electric vehicles, an area where Japanese companies have been more cautious, have been […]

China expects fresh consumption record with 9b trips in world’s largest migration

Travelers at the Hongqiao Railway Station ahead of Lunar New Year in Shanghai, on Jan. 23. — Bloomberg China is anticipating a fresh consumption record as it braces for the world’s largest annual human migration.  The upcoming Spring Festival travel rush, known as chunyun, is set to witness a staggering 9 billion passenger trips, painting […]

China faces worst economic slump since 1990 amid stalled recovery

A view of a street in China. — AFP/File China’s economy, as per official figures released on Wednesday, experienced one of the lowest growth rates in over three decades last year, with the country’s challenging economic condition attributed to a grave property crisis, slow consumption and global crisis. The figures align with expectations and surpass […]

160 high-end electric buses delivered by China | The Express Tribune

SUZHOU: In a landmark move, Suzhou Higer recently held the delivery ceremony for 160 high-end pure electric buses exported to Pakistan, marking the first substantial introduction of pure electric buses in the country. The order, valued at over RMB 150 million, signifies a pivotal step towards green and sustainable public transportation in Pakistan. Dignitaries, including […]

China allocates $140b for public investment | The Express Tribune

SHANGHAI: China’s top planning body said on Saturday it had identified a second batch of public investment projects, including flood control and disaster relief programmes, under a bond issuance and investment plan announced in October to boost the economy. With the latest tranche, China has now earmarked more than 800 billion yuan of its 1 […]

China, Saudi Arabia sign 50 billion yuan currency swap agreement

Saudi Crown Prince Mohammed bin Salman shakes hands with Chinese leader Xi Jinping during the China-Arab Summit in the Saudi capital Riyadh on Friday. — AFP A local currency exchange agreement has been inked by the Saudi Central Bank and the People’s Bank of China (PBC) in which the amount of the trade is 26 […]

Oil prices fall amid US production, China energy concerns

An oil plant located in the United States. — AFP/File In response to indications of increased production in the US and prospects of poor energy demand in China, investors in New York responded by sending oil prices down more than $3 a barrel on Thursday, prolonging losses from the previous session. Brent futures had dropped […]

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